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The purchase, which involves a payment of £40m for Bibendum’s equity and gives the business an enterprise value of £60m, will be accompanied by a £32m rights issue.

The acquisitive Aim-listed business is intending to conditionally place 15.6m new shares with institutional investors to raise the £32m. Brokers Zeus and Investec are to be tasked with the placing.

Bibendum, which supplies wine, beer and spirits to some 4,000 restaurants, pubs and hotels across the UK, will boost the listed group’s annual turnover by 23pc, with combined annual sales of more than £1.2bn.